Category: Uncategorized

Resolution of ‘major issues’ now takes spotlight in UP-NS merger process While the intermodal piece of the Union Pacific-Norfolk Southern deal could face some obstacles, UP CEO Jim Vena and his team have shown a willingness to try new approaches in growing their intermodal franchise, writes Ted Prince. Go to journal of commerce

UP looks to create first coast-to-coast railroad with $85 billion NS deal Union Pacific said the acquisition of its smaller rival would improve service by reducing interchanges while taking market share from Canada’s Class I railroads and the truckload market. Go to journal of commerce

DAT acquiring Convoy automation platform from Flexport The deal is DAT’s third in seven months as the freight marketplace seeks to build a multifaceted and trusted truckload transactional platform. Go to journal of commerce

Hutchison confirms Chinese investor interest in BlackRock-TiL ports sale The company did not disclose the identity of the potential Chinese investor in the $23 billion deal, although it is widely thought to be Cosco Shipping Holdings. Go to journal of commerce

Trans-Atlantic trade dispute averted as US, EU reach weekend deal But with many details of the framework agreement still to be thrashed out over the coming weeks, it will do little to address the uncertainty hanging over the trade lane. Go to journal of commerce

US importers scramble to manage huge hike in bond outlay linked to higher tariffs US Customs and Border Protection requires importers to maintain a bond for estimated duties owed, a number that has increased significantly as new tariffs take effect. Go to journal of commerce

Trucking intelligence provider expands visibility product into drayage market GenLogs is offering data on shipper drayage volumes, available carriers and asset location at the Port of Miami as part of a broadening of its highway sensor-based platform. Go to journal of commerce

Wave of Asian boxes to hit congested North Europe ports in August–September Double-digit demand is expected to continue through the third quarter on the Asia-Europe trades, piling more pressure on terminals that have been overstretched for months. Go to journal of commerce

Ocean frontloading cuts air freight demand on trans-Pacific The 90-day pause in tariffs was long enough for US importers to advance most of their cargo shipments by ocean, according to analysts. Go to journal of commerce

CMA CGM reflags vessel in first move to boost size of US fleet The carrier announced in March it would spend $20 billion over the next four years to significantly bolster its logistics presence in the US, including expanding its US-flag fleet and increasing capacity at key US ports. Go to journal of commerce

MSC to launch new USEC-Oceania weekly service in February Volumes from Oceania to the US East Coast have grown steadily during the past five years, with this June recording the most imports ever for a single month. Go to journal of commerce

UP confirms in ‘advanced discussions’ on deal with Norfolk Southern Any tie-up between the two railroads would be classified as a “major transaction” under US Surface Transportation Board regulations and subject to a rigorous review that could take two to three years. Go to journal of commerce

Post-tariff foreign currency headwinds hit Kuehne + Nagel’s H1, Q2 profit The negative foreign exchange effects were most noticeable in the forwarder’s US dollar-denominated ocean freight business, where earnings fell sharply in the second quarter. Go to journal of commerce

India-Europe rates strengthen on peak season space demand, capacity cuts Local freight forwarders have reported rate increases in the range of $300 to $500 per FEU month over month and expect further slight gains if the pace of demand remains steady. Go to journal of commerce

Impending Brazil tariffs increase pressure on US pulp industry In the wake of several paper mill closures globally so far this year, US pulp importers will be dealt another blow on Aug. 1 when a proposed 50% tariff on cargo from Brazil will go into effect. Go to journal of commerce

Intra-Asia trade faces fresh turmoil from potential hefty US tariffs: HPH Trust The Asian Development Bank also warned in a note Wednesday that escalating tariffs and further trade friction would further dim intra-Asia growth prospects. Go to journal of commerce

Broker group warns against increased shipper-3PL rate transparency The head of the Transportation Intermediaries Association says that calls for more access to what shippers pay brokers under the guise of protecting truckers from fraud is a ploy to view what should be confidential business information. Go to journal of commerce

CMA CGM, TotalEnergies ink deal to jointly operate LNG bunkering vessel The joint venture is accompanied by a long-term agreement that will lock in the supply of LNG to the ocean carrier’s fast-growing dual-fuel fleet that will increase to 123 vessels by 2029. Go to journal of commerce

Carney has fresh opportunity to galvanize Canadian shipping industry Canada’s port stakeholders are hopeful the new prime minister and world-renowned economist will fast-track major projects and modernize labor negotiations. Go to journal of commerce